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It is estimated that seven out of ten privately held businesses have no succession plan to transfer the business to the next generation of owners. It means that if you do not currently have a plan in place to transfer your business to family members, existing partners, management or employees, someday you will think about selling your business. Here is a list of the most common reasons why owners sell (or otherwise discontinue) their businesses: Burn-out, Health issues, Personal diversification, Retirement/semi-retirement, Death, Divorce/partner disputes, Business growing too fast, Second generation not up to the task, Loss of market share.
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